how you can save tons of money on your home owner's insurance

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How You Can Save Tons Of Money On Your Home Owner's Insurance Selecting the correct homeowner's insurance can be rather tricky if you aren't familiar with the subject. Protect your home by using these useful tips to find a great policy. There are a couple of different ways you can reduce your homeowner's insurance premiums. Take the first step and install a good security system. You'll see that this can actually lower the cost of your insurance by up to 5%! You have to prove to the insurance company that your system is being monitored and was installed professionally, of course. Next, have smoke alarms installed in every room. You can save up to 10% each year. Pay off your mortgage to save on your homeowner's insurance. When you own your home outright, an insurance company feels you are more likely to take care of it and protect it. Paying off mortgage debt decreases your annual premiums. To ensure that your homeowner's insurance claim is properly processed, ensure that you maintain an updated inventory list of all your home's items. Anyone that has experienced loss can tell you that it's difficult to remember all that you had at that time. Take pictures of the contents of your home (remember cabinets and closets) for the most accurate record. There are many things that can cause your home to lose value. Fire is one factor. You need a great fire insurance policy that will protect your home from human error, arson, cars, earthquakes and storms. Look over your policy thoroughly, and don't be afraid to ask questions to ensure that you are completely protected from fire. Flood insurance may not seem necessary if you don't live in a high-risk area, but it could be a good idea anyway. As many as 25% of the claims made for federal disaster relief for flooding occurred outside of areas considered high-risk. A price-reduction on flood coverage is included in most low- risk locations across the map. You may not think you need flood insurance if you live outside a high-risk flood area, but it may be a smart idea anyway. 25% of all federal claims are for flooding outside of high-risk zones. You will also

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Page 1: How You Can Save Tons Of Money On Your Home Owner's Insurance

How You Can Save Tons Of Money On Your Home Owner'sInsurance

Selecting the correct homeowner's insurance can be rather tricky if you aren't familiar with thesubject. Protect your home by using these useful tips to find a great policy.

There are a couple of different ways you can reduce your homeowner's insurance premiums. Takethe first step and install a good security system. You'll see that this can actually lower the cost ofyour insurance by up to 5%! You have to prove to the insurance company that your system is beingmonitored and was installed professionally, of course. Next, have smoke alarms installed in everyroom. You can save up to 10% each year.

Pay off your mortgage to save on your homeowner's insurance. When you own your home outright,an insurance company feels you are more likely to take care of it and protect it. Paying off mortgagedebt decreases your annual premiums.

To ensure that your homeowner's insurance claim is properly processed, ensure that you maintainan updated inventory list of all your home's items. Anyone that has experienced loss can tell you thatit's difficult to remember all that you had at that time. Take pictures of the contents of your home(remember cabinets and closets) for the most accurate record.

There are many things that can cause your home to lose value. Fire is one factor. You need a greatfire insurance policy that will protect your home from human error, arson, cars, earthquakes andstorms. Look over your policy thoroughly, and don't be afraid to ask questions to ensure that you arecompletely protected from fire.

Flood insurance may not seem necessary if you don't live in a high-risk area, but it could be a goodidea anyway. As many as 25% of the claims made for federal disaster relief for flooding occurredoutside of areas considered high-risk. A price-reduction on flood coverage is included in most low-risk locations across the map.

You may not think you need flood insurance if you live outside a high-risk flood area, but it may be asmart idea anyway. 25% of all federal claims are for flooding outside of high-risk zones. You will also

Page 2: How You Can Save Tons Of Money On Your Home Owner's Insurance

find it cheaper to get insurance for floods if the area you live in is low or medium risk.

In order to reduce your premium costs, think about increasing your policy's deductible. Rememberthat smaller repairs can end up being an expense out of your pocket.

Any injury on your property could result in a liability suit being filed against you. It may seem unfair,but trespassers can assert their rights. Keep it in your mind that homeowner's insurance isnecessary.

If you plan to do renovations or upgrades to your property, remember that your choices may affectyour insurance rates. Your premiums may depend on the building materials you use. Because suchmaterials are more likely to hold up over time, your carrier may offer you a discount on your policy.

Look for insurers that offer a wide range of insurance products. Having policies with differentcompanies can end up costing you hundreds of extra dollars each year. In addition, it's easier tomanage all your policies because one agent is usually in charge of them all; therefore, he or she cananswer every single question you have. In addition, you can pay off all your premiums at onelocation.

Buy multiple products from one insurer in order to receive additional discounts. Many insurancecompanies provide discounts to those with multiple insurance policies. For example, having bothauto and home owner's insurance with a single company can lower your premiums significantly.

Get all of your insurance policies from one company to save money. Many insurance carriers offerdiscounts for customers with multiple lines of insurance. You can save on premiums if you combineyour homeowner's policy and auto policy.

It is a smart idea to design an update or addition to your house with insurance factors in mind. Asimple choice of concrete as a building material, for example, can lower premiums with certaininsurance companies in regions throughout the country. The insurance carrier may often charge lessto cover the new addition as they believe better construction materials are least likely to sufferdamage.

You can place one-twelfth of your premium into an escrow account each month through yourmortgage payments. This will help you avoid the hassle of paying the premium every month on yourown.

You should be on top of auditing your home each year if you want to get lower insurance rates. Thiswill also help you avoid paying more than necessary for insurance as your personal items depreciatein value with the passage of time. Depreciated values mean your home's contents aren't worth asmuch as they were last year. Your policy must be continuously updated.

Following this simple advice will lead to simple results, including great coverage and betterprotection. Make sure you are completely covered for any circumstances that may occur.